SG Americas Securities LLC Has $22.16 Million Stake in MGM Resorts International $MGM

Key Points

• SG Americas Securities LLC increased its stake in MGM by 461.5% in Q4 to 607,164 shares, a roughly 0.22% position valued at $22.16 million.
• MGM topped expectations with Q4 EPS of $1.60 (vs. $0.64) and revenue of $4.61 billion, but analysts remain mixed—MarketBeat shows a consensus "Hold" rating and an average target of $41.94.
• Notable insider activity: Director Keith Meister sold 37,500 shares while major shareholder IAC Inc. bought 450,000 shares (~$16.7 million), and institutional investors own about 68.11% of the stock.

SG Americas Securities LLC grew its position in shares of MGM Resorts International (NYSE:MGM - Free Report) by 461.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 607,164 shares of the company's stock after purchasing an additional 499,024 shares during the quarter. SG Americas Securities LLC owned approximately 0.22% of MGM Resorts International worth $22,155,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CYBER HORNET ETFs LLC acquired a new position in shares of MGM Resorts International in the second quarter valued at approximately $25,000. Mendota Financial Group LLC acquired a new stake in MGM Resorts International during the 3rd quarter worth approximately $27,000. Mather Group LLC. bought a new stake in MGM Resorts International during the 3rd quarter worth approximately $33,000. Employees Retirement System of Texas bought a new stake in MGM Resorts International during the 2nd quarter worth approximately $45,000. Finally, Stance Capital LLC acquired a new position in MGM Resorts International in the 3rd quarter valued at approximately $46,000. 68.11% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MGM. Susquehanna dropped their price target on shares of MGM Resorts International from $46.00 to $45.00 and set a "positive" rating for the company in a research note on Friday, February 6th. Truist Financial boosted their price objective on shares of MGM Resorts International from $38.00 to $39.00 and gave the stock a "hold" rating in a research note on Friday, February 6th. Morgan Stanley reaffirmed an "underweight" rating and set a $34.00 target price on shares of MGM Resorts International in a research report on Wednesday, February 11th. JPMorgan Chase & Co. lifted their target price on MGM Resorts International from $39.00 to $41.00 and gave the stock a "neutral" rating in a report on Friday, February 6th. Finally, Wells Fargo & Company upped their price target on MGM Resorts International from $29.00 to $31.00 and gave the company an "underweight" rating in a research report on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seven have given a Hold rating and four have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $41.94.

MGM Resorts International Stock Up 0.2%

Shares of NYSE MGM opened at $37.58 on Friday. The company's 50 day moving average price is $35.63 and its 200-day moving average price is $34.81. The company has a debt-to-equity ratio of 1.91, a quick ratio of 1.20 and a current ratio of 1.23. MGM Resorts International has a 52-week low of $25.30 and a 52-week high of $40.16. The company has a market capitalization of $9.61 billion, a P/E ratio of 50.11 and a beta of 1.38.

MGM Resorts International (NYSE:MGM - Get Free Report) last posted its quarterly earnings data on Wednesday, February 4th. The company reported $1.60 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.96. MGM Resorts International had a net margin of 1.17% and a return on equity of 26.04%. The company had revenue of $4.61 billion during the quarter, compared to analysts' expectations of $4.42 billion. During the same period in the prior year, the company posted $0.45 earnings per share. Equities analysts forecast that MGM Resorts International will post 2.21 earnings per share for the current year.

Insiders Place Their Bets

In other MGM Resorts International news, Director Keith A. Meister sold 37,500 shares of the company's stock in a transaction on Monday, March 9th. The shares were sold at an average price of $34.27, for a total transaction of $1,285,125.00. Following the sale, the director owned 5,347,978 shares of the company's stock, valued at approximately $183,275,206.06. This represents a 0.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Iac Inc. purchased 450,000 shares of the firm's stock in a transaction on Tuesday, March 24th. The shares were acquired at an average price of $37.13 per share, with a total value of $16,708,500.00. Following the completion of the acquisition, the insider owned 66,822,350 shares in the company, valued at approximately $2,481,113,855.50. This trade represents a 0.68% increase in their position. The disclosure for this purchase is available in the SEC filing. Corporate insiders own 3.06% of the company's stock.

MGM Resorts International Company Profile

MGM Resorts International is a leading global hospitality and entertainment company that develops, owns and operates destination resorts, hotels and casinos. Its properties feature integrated gaming floors alongside luxury accommodations, fine dining and retail outlets, live entertainment venues and convention facilities. The company also offers loyalty programs, sports betting and digital gaming experiences to enhance guest engagement and drive repeat visitation.

The company traces its heritage to the opening of the original MGM Grand Hotel & Casino on the Las Vegas Strip in 1973.

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